$128.25 Million in Sales Expected for Mesa Air Group, Inc. (NASDAQ:MESA) This Quarter

Equities analysts expect Mesa Air Group, Inc. (NASDAQ:MESAGet Rating) to announce $128.25 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Mesa Air Group’s earnings. The lowest sales estimate is $126.50 million and the highest is $130.00 million. Mesa Air Group reported sales of $125.16 million in the same quarter last year, which indicates a positive year-over-year growth rate of 2.5%. The firm is scheduled to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Mesa Air Group will report full year sales of $527.58 million for the current fiscal year, with estimates ranging from $525.15 million to $530.00 million. For the next year, analysts forecast that the company will report sales of $574.04 million, with estimates ranging from $569.00 million to $579.07 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Mesa Air Group.

Mesa Air Group (NASDAQ:MESAGet Rating) last issued its quarterly earnings data on Monday, May 9th. The company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.02. Mesa Air Group had a negative net margin of 11.44% and a negative return on equity of 3.69%. The firm had revenue of $123.21 million for the quarter, compared to analyst estimates of $127.13 million. During the same quarter in the prior year, the firm earned $0.23 EPS. The company’s revenue was up 26.7% on a year-over-year basis.

Several brokerages recently commented on MESA. TheStreet downgraded Mesa Air Group from a “c” rating to a “d+” rating in a research note on Friday, February 11th. Raymond James cut shares of Mesa Air Group from an “outperform” rating to a “market perform” rating in a research note on Friday, February 4th. Deutsche Bank Aktiengesellschaft decreased their price objective on Mesa Air Group from $5.50 to $3.00 in a report on Wednesday, May 11th. Finally, Zacks Investment Research upgraded Mesa Air Group from a “sell” rating to a “hold” rating in a research note on Saturday. Four analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $8.38.

Several hedge funds have recently made changes to their positions in MESA. Royal Bank of Canada lifted its position in Mesa Air Group by 5.9% during the third quarter. Royal Bank of Canada now owns 21,443 shares of the company’s stock worth $165,000 after acquiring an additional 1,200 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Mesa Air Group by 4.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 35,951 shares of the company’s stock worth $275,000 after purchasing an additional 1,414 shares during the period. Citigroup Inc. lifted its holdings in Mesa Air Group by 123.0% during the 3rd quarter. Citigroup Inc. now owns 3,640 shares of the company’s stock worth $28,000 after purchasing an additional 2,008 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Mesa Air Group by 10.0% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 22,251 shares of the company’s stock valued at $125,000 after buying an additional 2,022 shares in the last quarter. Finally, Pinnacle Holdings LLC increased its position in Mesa Air Group by 3.7% during the 3rd quarter. Pinnacle Holdings LLC now owns 91,319 shares of the company’s stock worth $700,000 after buying an additional 3,292 shares during the period. 52.41% of the stock is owned by institutional investors and hedge funds.

Shares of MESA stock opened at $2.71 on Monday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.45 and a current ratio of 0.48. Mesa Air Group has a 52-week low of $2.46 and a 52-week high of $11.57. The firm’s 50 day moving average price is $3.87 and its two-hundred day moving average price is $5.25. The stock has a market cap of $97.92 million, a PE ratio of -1.60 and a beta of 2.72.

Mesa Air Group Company Profile (Get Rating)

Mesa Air Group, Inc operates as the holding company for Mesa Airlines, Inc that provides regional air carrier services under capacity purchase agreements with the American Airlines and the United Airlines. It also engages in leasing aircrafts to third parties. As of September 30, 2021, the company operated a fleet of 167 aircraft, which include 153 owned aircrafts and 14 leased aircrafts with approximately 507 daily departures to 129 cities in the United States and Mexico.

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